Minister stands by plan to borrow £275m for hospital

Earlier this year, Treasury Minister Alan Maclean proposed funding the £466 million Future Hospital project by borrowing up to £275 million and covering the rest of the cost through the Strategic Reserve.

However, those plans were withdrawn on the eve of the States debate into the funding strategy after Members raised concerns that they didn’t have enough information about how the funds would be used.

Senator Maclean confirmed that he, and other officials in the Treasury Department, still believe that a ‘blended solution’ of borrowing and using already available funds was the best option.

‘There has been no change in my views,’ he said. ‘I make my decision based on the advice I receive and the funding solution that Treasury believed was the right one then is still the right one.

‘We agreed that we would look at the other options and bring back the business case for the hospital project alongside the 2018 Budget.’

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